Which of the following did the 1986 Tax Reform Act not intended to do?
a. lower marginal tax rates
b. broaden the tax base
c. keep average tax rates the same
d. reduce the bias towards saving
d
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If the price of hamburger rises, we would expect the demand for steak to shift to the right.
Answer the following statement true (T) or false (F)
Taxes on beer are progressive if considered in terms of lifetime income because college students consume so much beer
a. True b. False
If a professional sports athlete signs a new contract which defers compensation until years after she is retired, she is signaling
A) that she does not plan to shirk in the future, regardless of whether she did so in the past. B) that she did shirk and she will do so in the future. C) that she did shirk but won't do so in the future. D) that she didn't shirk and she won't do so in the future.
The formula (MPL)(MRX), where L is for labor and X is the output, is for
A. the marginal product of labor. B. the marginal revenue from labor. C. total revenue of labor. D. the marginal revenue product of labor.